Quantitative Methods for Management_MBA_Bharathiar University

Unit 1 - functions - Differentiation - Integration - Variables - Constants - Mathematical models

1. By Mr. Victorseelan D., MSc.,MPhil (Statistics) Dept of Mathematics Nehru College of Management Coimbatore Quantitative Methods For Management NCM - MBA

2. Quantitative Methods For Management SYLLABUS UNIT I Linear, Non-Linear functions – graphical representation of functions, Constants, Variables – notion of Mathematical models – concept of trade off – notion of constants – concept of Interest . Basic Concept of differentiation – integration – Optimization concepts – use of differentiation for optimization of business problem- Optimization. UNIT II Data Analysis – Uni-Variate – ungrouped and grouped data measures of central Tendencies, measures of dispersion – C V percentages (problem related to business applications). Bivariate – correlation and regression – problems related to business applications. UNIT III Probability – definitions – addition and multiplication Rules (only statements) – simple business application problems – probability distribution – expected value concept – theoretical probability distributions – Binomial, Poison and Normal – Simple problems applied to business

3. Quantitative Methods For Management SYLLABUS UNIT IV Basic concept of index numbers – simple and weighted index numbers – concept of weights - types of index numbers – Business index number – CPT, WPI, Sensex , Niffy , Production Index, Time series – variations in Time Series for business forecasting . UNIT V Hypothesis testing of Proportion and Mean – single and two tailed tests – errors in Hypothesis Testing – Measuring the power of Hypothesis test . Chi-Square Tests References : 1. Statistics for Management – Richard L Levin & Daid S Rubin 2. Statistical Methods – S P Gupta 3. Statistics for Business and Economics – R P Hoods – MacMillan India Limited 4. David M.Levine , Timothy C.Krehbiel and Mark L.Berenson “ Business Statistics: A First Course ” , Pearson Education Asia 5. Amir D. Aczel , Complete Business Statistics , 5th edition, Irwin McGraw-Hill.   Questions : 80% of the questions shall be problems 20% of the questions shall be theory based.

4. UNIT – 1 Review Linear, Non-Linear functions: Graphical representation of functions, Constants, Variables – Notion of Mathematical models – Concept of trade off – notion of constants – concept of Interest. Basic Concept of differentiation – integration – Optimization concepts – use of differentiation for optimization of business problem- Optimization.

5. Constants and Variables Constants and Variables are the two types of symbols in algebra. Constant: A symbol which has a fixed numerical value is called a constant. For example: 2, 5, 0, -3, -7, 2/7, 7/9 etc., are constants. Number of days in a week represents a constant. In the expression 5x + 7, the constant term is 7.

6. Constants and Variables Variables: A quantity which has no fixed value but takes no various numerical values is called a variable. For example: Temperature at different times of a day represents a variable. The height of a student in your grade is a variable, as it varies from student to student. A variable is denoted by a letter like x, y, z, u, v etc.

7. Examples Examples on Constants and Variables: ( i ) In 2a , 2 is a constant and a is a variable. (ii) In -7mn , -7 is a constant and m and n are variables. (iii) In 3x , 3 is constant and x is variable but together 3x is a variable. (iv) If 3 is a constant and x is a variable, then 3 + x, 3 - x, 3/x, 3x, x/3, etc., are also variables. So, we conclude that the combination of a constant and a variable is always a variable.

8. Trade-off functions Trade-off functions express how much of one objective has to be sacrificed to increase the value of another objective by one unit.

9. Functions

10. Linear Functions An equation whose graph is a straight line is called a linear function. A linear function has an equation that can be written in the form of

11. Nonlinear Functions - Q uadratic function Equations whose graphs are not straight lines are called nonlinear functions. Some nonlinear functions have specific names. A quadratic function is nonlinear and has an equation in the form of

12. Nonlinear Functions - Cubic function Another nonlinear function is a cubic function. A cubic function has an equation in the form of

13. Mathematical Models

14. Concepts of Simple and Compound Interest

15. Simple Interest - Example

16. Compound Interest - Example

17. Basic Concept of Differentiation and Integration

18. Chain Rule

19. INTEGRATION

20. Previous Year Questions (Theory) Distinguish between Constant and Variable of a Mathematical Model with a suitable Example? Define Linear and Non Linear functions with Example Differentiate Integration and Differentiation?